On a relatively slow day for Defense Department business Tuesday, a sizable contract was awarded to a company you don't often think of as belonging to the military-industrial complex: McCann Worldgroup, a subsidiary of giant, globetrotting ad agency Interpublic (NYSE:IPG) -- and just in time for the return of Mad Men.
The Pentagon awarded McCann a modification to a previously awarded contract to provide "professional marketing and advertising services in support of personnel recruitment and retention programs throughout the Army."
The instant contract is valued at $192.1 million, and by dollar value, accounts for more than half the $347 million in contracts that DoD announced yesterday. It also raises the total amount of money that the Pentagon has awarded McCann for advertising services under this contract, to $565.1 million.
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